Nathan Colmer | Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
Nathan Colmer | Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
A falling real estate market can have many names. Slowdown, dropping, decreasing, crashing, shifting market, etc. but they all mean the same thing...prices of homes are falling. On Long Beach Island, like elsewhere, this is a natural cycle however LBI tends not to see as significant a drop as some primary markets. While the economy is in a down cycle at the moment, it is important to keep in mind the differences between this cycle and the last great market fall in 2008-2009. That historic drop was caused by the real estate market and bad credit. This drop is thanks to Coronavirus. While the end result may be similar, the fundamentals of the local and national real estate market are still very strong. As there are some indicators that the real estate market may be falling it is prudent to explore the ins and outs of buying, selling and investing during a LBI real estate market slowdown. I have broken this section into four primary categories. Buying, selling, investing and market trends. Each will focus on a decreasing Long Beach Island real estate market and how to successfully navigate such a market.
Just about everyone wants to know how will the Coronavirus impact the LBI real estate market. Since the Coronavirus appeared, we have seen turmoil throughout the world and the financial market and nobody know how long or how far the impact will go. That said, there are some local trends we can use to draw conclusions on the impact of the Coronavirus in the near and long term.
Buyers usually benefit the most from a falling real estate market, provided they exercise patience and discipline. The key fundamentals that drive value in the Long Beach Island real estate market cannot be ignored and are the key (no pun intended) to success. In this section we will go over what determines value and how to best capitalize on a falling Long Beach Island market.
Sellers are usually the hardest hit in a slower market but there are opportunities for sellers as well. In this section we will go over market timing, the advantages of selling in a slower market and discuss if a wait and hold approach is your best strategy.
A slow market can offer real opportunity to invest on Long Beach Island. Whether it be in the form of a long term rental property or a house flip (spec house), investing in a slower market may make sense and balance your overall portfolio. This section will cover rental income and spec house timing as well as the risks associated with both.
This section will broadly cover the developing market trends on Long Beach Island. Review the current trends developing in the LBI real estate market to anticipate when is the best time for you to buy or sell a home.
Do Year Over Year LBI Real Estate Sales Point To A Slow Market?
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LBI Real Estate Market Appreciation
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LBI Real Estate Listing Price and Sale Price Ratios
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Long Beach Island Real Estate Median Price Trends
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